Frankie Dettori, the renowned jockey, is facing significant financial challenges following the liquidation of his companies. The insolvency has left creditors, including HM Revenue & Customs (HMRC), with no expectation of recovering debts amounting to £765,542.
Financial Turmoil Following Bankruptcy
Dettori’s financial issues stem from a bankruptcy declared last March due to unpaid taxes. These taxes originated from his participation in a tax avoidance scheme. Despite his attempts to keep his identity secret during legal proceedings, he was identified in December 2024.
The latest update on the liquidation of Frankie Dettori Limited and Newmarket Activities Limited revealed that there are no funds available to repay creditors. The total outstanding debt, including liquidator fees, reached £888,799.
Key Figures from the Liquidation
- Total owed to HMRC: £765,542
- Debt to a car leasing company: £6,391
- Total debt including fees: £888,799
Future Prospects for Dettori
Despite these setbacks, Dettori’s career in horse racing continues. He is scheduled to make his final rides in Brazil next month as part of a farewell tour across South America. After retiring, he will assume a full-time role as a global brand ambassador for Amo Racing.
In a statement regarding his bankruptcy, Dettori expressed his sadness and embarrassment. He emphasized the importance of financial responsibility, stating that bankruptcy’s effects would linger for years.
As he transitions into his new role with Amo Racing, Kia Joorabchian, a representative of the company, noted that Dettori will be actively involved in operations and public relations. This marks a new chapter in Dettori’s professional journey, despite the challenges he currently faces.
